Brent

Opec, non-Opec to look at extending oil-output cut by six months

London - Arab Today

Oil fell further toward $50 a barrel on Monday, pressured by uncertainty over whether an Opec-led production cut will be extended beyond June in an effort to counter a glut of crude. A committee of ministers from Opecand outside producers agreed on Sunday to look at prolonging the deal, stopping short of an earlier draft statement that said the committeeRead more

UAE fuel prices to go up for October

Abu Dhabi - ArabToday

Fuel prices in the UAE are set to go up for the month of October, the Ministry of Energy announced on Thursday. The new per litre prices are Super 98 at Dh1.81, up from Dh1.75 in September, Special 95 at Dh1.70, up from Dh1.64; E Plus 91 at Dh1.63, up from Dh1.57. Diesel price has been increased from Dh1.72 perRead more

Kuwait Oil Price down 3 Cents to USD 36.94 pb

Kuwait - QNA

The price of Kuwaiti oil went down by three cents Wednesday to reach USD 36.94 per barrel after being at USD 36.97 pb the day before, said Kuwait Petroleum Corporation (KPC) Thursday. In the US, the price of crude contracts for September delivery went up yesterday to USD 41.08 per barrel while the New York Mercantile Exchange (NYMEX) recorded theRead more

Hedge funds in new cycle of oil short-selling

London - Arab Today

Hedge funds have been liquidating their former record bullish position in crude futures and options putting downward pressure on oil prices in recent weeks. But now the liquidation of old long positions is being replaced by the establishment of new short positions as fund managers try to capitalize on the downward cycle in prices. Hedge funds and other money managersRead more

Redstone granddaughter enters fray

San Francisco - Arab Today

A granddaughter of Sumner Redstone alleged Wednesday that the ailing media mogul is being manipulated by his daughter, vowing to help stop her purported bid to "seize" his corporate empire. The statement from Keryn Redstone deepens the family drama, setting the stage for a heightened battle for control of holdings that include the CBS television group and media conglomerate Viacom.Read more

Brent Crude Rises above $50 a Barrel

Singapore - QNA

Brent crude prices rose above $50 a barrel in early Asia trade Thursday, as a recent decline in US crude stocks raised expectations for a tightening in the market. Brent LCOc1 had climbed 34 cents to $50.08 a barrel, its highest since November 4. It ended the previous session up $1.13, or 2.3%. US crude futures CLc1 rose 31Read more

Oil Prices dip on strong Dollar and firm global supply

Singapore - QNA

Oil prices slipped in Asian trade on Monday on a strong dollar and signs that global crude supply is holding up even as volumes hit by unplanned outages rise to at least five-year highs. Brent futures LCOc1 were down 18 cents at $48.54 a barrel as of 0421 GMT, after ending the previous session 9 cents down. US crude futuresRead more

Kuwait Oil price up to USD 42.80 pb

Kuwait - QNA

Kuwait oil price went up two cents on Wednesday, reaching USD 42.80 per barrel against Monday's USD 42.78 per barrel, Kuwait Petroleum Corporation (KPC) said Thursday. However, international markets declined due to high US dollar exchange rate. Yesterday, Brent went down 35 cents and settled at 48.93 per barrel , so as did US crude; 12 cents to 48.19Read more

Kuwait Oil price Up 50 cents to USD 42.78 pb

Kuwait - QNA

Kuwait oil price went up 50 cents on Tuesday, reaching USD 42.78 per barrel (pb) against Monday's USD 42.28 pb, Kuwait Petroleum Corporation (KPC) said Wednesday. International markets also so hiked prices due to forecasts of a US reserve decline and Canadian supply impacted by wildfire, according to Kuwait's (KUNA) News Agency. Brent went up 31 cents andRead more

Oil prices rise on Nigeria, Venezuela disruptions

Singapore - QNA

Oil prices jumped over 1 percent on Monday after supply disruptions from Nigeria, Venezuela, the United States and China triggered a U-turn in the oil outlook of Goldman Sachs, which long warned of overflowing storage and another looming crash in prices. International Brent crude futures were trading at $48.50 per barrel at 0255 GMT, up 67 cents, or 1.4Read more